This blog was written by Pradnya Gugale, Senior Analyst at QKS Group and originally appeared on the QKS Group website. It is republished with permission.

In today’s dynamic financial landscape, modernization is essential for organizations to stay competitive. The recent webinar hosted by Trintech, with speakers from KPMG, Workday, and Trintech, highlighted how financial institutions are transforming their finance and accounting functions through cutting-edge technologies. Trintech, a key player in this transformation, is enabling businesses to streamline processes, enhance efficiency, and improve decision-making through AI, automation, and integrated cloud-based solutions.

The Role of Technology in Finance Modernization

Christine Walton, Director of Finance Transformation at KPMG, opened the session by discussing the key trends in financial services. One of the most significant trends is the evolution of technology across the financial institution’s tech stack, from front to back office. Trintech’s solutions, such as automation in reconciliation and close management, were showcased as critical in this modernization journey.

Christine emphasized the need to adopt cloud-based ERPs and automation technologies to automate routine tasks, allowing finance teams to focus on strategic business activities. Trintech’s technology plays a pivotal role in this shift, by enhancing the accuracy of financial statements, improving balance sheet substantiation, and reducing manual effort in high-risk, high-volume accounts.

Trintech’s AI and Automation: Empowering Finance

Michael Brady, Managing Director at Workday, highlighted how Trintech complements Workday’s ERP with specialized functionalities, particularly in the automation of finance operations. The partnership between Workday and Trintech enhances the overall efficiency of financial institutions by automating key tasks like reconciliation and journal entries, freeing up valuable resources and improving compliance.

Trintech’s AI-driven solutions are transforming how organizations handle day-to-day financial operations. Its AI capabilities are not just about automation; they extend to simplifying the creation of journal entries, matching transactions with high accuracy, and identifying anomalies for further investigation. These features reduce the reliance on manual intervention, allowing finance teams to make more informed, data-driven decisions more quickly.

Composable ERP: The Future of Finance

Another focal point of the discussion was composable ERP. This model advocates for integrating solutions, like Trintech, with core ERP systems to create a flexible, agile, and scalable finance infrastructure. As financial institutions face increasing regulatory scrutiny, Trintech’s solutions provide the robust controls and automation needed to ensure compliance while driving operational efficiency.

Gayla Steiner, VP of Strategic Engagement at Trintech, elaborated on how financial institutions are using Trintech’s tools to automate daily reconciliation processes, achieve higher auto-match rates, and streamline journal entries, while maintaining the necessary checks and balances. This not only accelerates financial close cycles but also enhances overall financial governance.

Trintech’s Vision for AI and the Road Ahead

Looking toward the future, Trintech is actively investing in expanding its AI and machine learning capabilities. Gayla mentioned how the company’s innovation team is working on developing more advanced AI features that will further reduce manual work and provide finance teams with intelligent insights, allowing them to focus on higher-value activities. The goal is not to replace the human element but to augment it with AI-driven suggestions and automation that streamline processes and reduce errors.

Michael also touched on the partnership between Workday and Trintech, sharing his excitement about how the two companies are jointly developing solutions that address the unique challenges faced by financial institutions, particularly in regulatory-heavy industries like banking and insurance.

Mekaela Davis, Chief Partner Officer, stated “Trintech’s partnership with Workday streamlines financial close processes for efficiency, paves the way for strategic growth, and reduces risk for the Office of the CFO. By combining Trintech’s sophisticated reconciliation and transaction matching capabilities with the core functionality offered by Workday Financials and Workday Adaptive Planning and Consolidation, we’re providing tools that empower finance and accounting teams to become true value drivers, leading the way for the rest of the business. We’re proud to be a Workday Platinum Innovation and Built-On Partner, which means we’re road-mapping for the future to drive synergy between our solutions, transforming finance professionals into rockstars that know how to Make Time Count.”

According to Pradnya Gugale, Senior Analyst at QKS Group, “Trintech’s integration of AI and automation isn’t just about replacing manual processes; it’s about empowering finance teams to deliver faster, more accurate insights. By automating routine tasks and providing intelligent suggestions, Trintech enables end-users to focus on strategic business decisions, which ultimately drives value across the organization.”

Conclusion

As financial institutions continue to modernize their finance and accounting processes, the role of technology cannot be understated. Trintech, with its advanced AI and automation capabilities, is playing a critical role in this transformation, enabling organizations to optimize processes, reduce risk, and improve decision-making. In partnership with ERP systems like Workday, Trintech is setting the stage for a new era of financial operations—one where finance teams can focus on strategy, powered by data and supported by intelligent automation.

Author: Pradnya Gugale, Senior Analyst at QKS Group